Postal Savings Bank of China tapped for development role in digital yuan payments

The Postal Savings Bank of China has become one of the appointed research and development institutions for the electronic Chinese yuan (e-CNY), allowing the bank to hold a first-mover advantage in the competition for position in China's electronic payments market, its owner, the state-owned China Post Group, said in an article . Fast facts – The bank is one of the six large state-owned banks designated for e-CNY development, alongside China Construction Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of Communications, and Bank of China. According to its [website] , the Postal Savings Bank focuses…